AMC Entertainment (NYSE:AMC) Releases Q2 2024 Earnings Guidance

AMC Entertainment (NYSE:AMC) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of -0.100–0.100 for the period, compared to the consensus estimate of -0.470. The company issued revenue guidance of $1.0 billion-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Macquarie raised their price target on AMC Entertainment from $3.50 to $4.00 and gave the company an underperform rating in a report on Tuesday, July 9th. Citigroup increased their target price on AMC Entertainment from $3.10 to $3.20 and gave the company a sell rating in a research note on Tuesday, May 14th. Finally, Wedbush increased their target price on AMC Entertainment from $3.50 to $4.00 and gave the company a neutral rating in a research note on Tuesday. Five research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat.com, AMC Entertainment has a consensus rating of Reduce and an average price target of $5.37.

AMC Entertainment Stock Up 1.2 %

AMC Entertainment stock traded up $0.06 during midday trading on Friday, reaching $5.20. The stock had a trading volume of 13,668,458 shares, compared to its average volume of 35,014,859. The firm’s fifty day simple moving average is $4.95 and its 200-day simple moving average is $4.33. AMC Entertainment has a 1-year low of $2.38 and a 1-year high of $54.60.

AMC Entertainment (NYSE:AMC) last announced its earnings results on Wednesday, May 8th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.16). The company had revenue of $951.40 million during the quarter, compared to analyst estimates of $951.40 million. On average, analysts predict that AMC Entertainment will post -0.84 earnings per share for the current fiscal year.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. It owns, operates, or has interests in theatres in the United States and Europe. The company was founded in 1920 and is headquartered in Leawood, Kansas.